DUBLIN--(BUSINESS WIRE)--The "Concrete Bonding Agent Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Concrete Bonding Agent Market is projected to register a CAGR of more than 5% during the forecast period (2021-2026).
- Adhesives Technology Corporation (ATC)
- ChemCo Systems, Inc.
- Flowcrete Group Ltd
- Fosroc, Inc.
- GCP Applied Technologies Inc.
- MAPEI Corporation
- MBCC Group
- Sika Corporation
- The Euclid Chemical Company
Key Market Trends
Increasing Demand from the Residential Building and Construction Sector
- In building and construction, these bonding agents are used for repairing, flooring, decorating, and a few other applications, which, in turn, helps renovate the buildings.
- These bonding agents improve cohesion, its positive adhesion exceeds that of the tensile strength of the host concrete.
- The building and construction sector leads the way in the application of concrete bonding agents. The increasing residential construction and renovation activities in developing countries are increasing the demand for concrete bonding agents.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years.
- According to World Bank and the publisher's analysis, the construction industry spending worldwide in the year 2019 is USD 12 trillion and is forecasted to reach an estimated value of USD 15.3 trillion in the year 2026 which will create the demand for concrete bonding agent.
- The US Census Bureau has been providing more permits for the construction of new residential buildings due to the current trend of multi-family buildings, along with a rise in migration to cities.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for concrete bonding agents, during the forecast period. In countries, like China, India, and ASEAN Countries, with the growing construction activities, the market for concrete bonding agents has been increasing rapidly.
- The largest producers of concrete bonding agents have a significant presence in the Asia-Pacific region. Some of the leading companies in the production of concrete bonding agents are Fosroc, Inc., Flowcrete Group Ltd, Sika AG, BASF SE.
- 100 smart cities and 500 cities are likely to invite further investments worth INR 2 trillion (~USD 28.18 billion), over the coming five years creating scope for the application of these concrete bonding agents.
- The Indian government has allocated USD 63 billion for the infrastructure sector in 2019-20 and is planning to spend USD 1.4 trillion over the next five years. Furthermore, the construction industry in India has received a major boost by the investment of USD 1.4 billion through private equity and venture capital investments during October 2019.
- Moreover, according to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019 which are expected to be completed by 2023. The growing infrastructure investment and building of complex structures are expected to drive the market for concrete bonding agents. Also, the country has the largest building market in the world, making up 20% of all construction investment globally. The country alone is expected to spend nearly USD 13 trillion on buildings by 2030.
- New petrochemical facilities development boosted the private sector demand, while industrial and building projects in the Punggol Digital District contributed to the public sector demand in Singapore. The infrastructure sector is also expected to post relatively healthy growth, mainly driven by the efforts to upgrade the country's road, rail and other public transport infrastructure and investment in energy and utilities construction projects. The government had been planning to invest SGD 28 billion (USD 20.9 billion) on the expansion and upgrading of the transport system by 2022.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for concrete bonding agents during the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Application in the Building and Construction Sector
4.1.2 Other Drivers
4.2.1 Dearth of Awareness among the Consumers
4.2.2 Impact of COVID-19 Outbreak
4.2.3 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Bonding Agent Type
5.3 End-user Industry
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ctlrwm